Acquisition of Liora Technologies Europe Ltd. |
6 Months Ended |
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Jun. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisition of Liora Technologies Europe Ltd. | 4. Acquisition of Liora Technologies Europe Ltd.
In November 2025, the Company acquired an 80% controlling interest in Liora Technologies Europe Ltd. (“Liora”), a special-purpose United Kingdom entity whose sole substantive asset is the LiGHT proton therapy machine (the “LiGHT machine”). Because Liora had no substantive operations, workforce, or processes, and substantially all of its fair value was concentrated in the LiGHT machine, the transaction was accounted for as an asset acquisition. The Company obtained control on November 21, 2025, consolidates Liora, and presents a 20% noncontrolling interest.
Total consideration for the 80% interest acquired was $5,189,966, consisting of cash of $440,000, digital assets of $1,732,966 (10.5925 Bitcoin and 300.699 Ether), and shares of the Company’s common stock valued at $3,017,000. Including the noncontrolling interest of $1,297,492 and capitalized transaction costs of $95,102, the total cost of the acquired asset was $6,582,560, which was allocated in its entirety to the LiGHT machine. During the six months ended June 30, 2026, the Company incurred $529,494 of engineering consulting expenses and $277,899 of other general and administrative expenses directly related to Liora. In addition, During the six months ended June 30, 2026, $24,859 of stamp duty tax assessed in January 2026 on the above transfer of ownership was capitalized.
The LiGHT machine is located at a leased facility at the Daresbury Laboratory in the United Kingdom and is not currently operational (see Note 5). The machine has not been placed in service, and accordingly no depreciation has been recognized. No impairment was recognized during the six months ended June 30, 2026.
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